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A predicted cable ad revenue growth of 8.9%, higher CPMs for local ad sales and video-on-demand advertising from dynamic ad insertion bodes well for local cable, writes Media Financial Management Association President and CEO Mary Collins. BCCA's Electronic Media Credit Application is designed to help avoid late payments from local advertisers through a single-form credit application for advertisers and a credit-check source for cable outlets, Collins writes.

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A lack of volume among swap-execution facilities has prompted Markit to shut down its pre-trade hub for checking credit. Credit Centre's closure leaves a single facility as a credit-checking hub, raising concerns about the market having a single point of failure. "Credit Centre was a forward-looking service designed to handle hundreds of thousands of messages a second," a Markit representative said in a statement. However, over-the-counter swaps have not moved to central limit order books the way Markit anticipated.

Markit Group and Traiana have launched rival credit-checking services and are signing up banks and trading platforms. Critics say credit checks by central counterparties could make the hubs, as the services have been dubbed, redundant. Some are also concerned that the over-the-counter derivatives industry has yet to figure out how to provide certainty that a swap will be accepted for clearing when it is executed.

The New York City Council is considering a bill that would prohibit employers from using credit checks during the hiring process or in other employment decisions. Business owners and Mayor Michael Bloomberg have criticized the legislation. Councilors say checking job candidates' credit is discriminatory, but business leaders say the practice is meant to maintain the integrity of the workforce.

Rules for over-the-counter derivatives have spurred credit-checking utilities CreditLink and Credit Centre to prepare to launch, despite industry pressure for a single hub. Credit Centre, which is run by MarkitServ, and CreditLink, run by Traiana, say they are testing their services with futures commission merchants, trading venues and their clients in preparation for the debut of swap-execution facilities. CreditLink and Credit Centre will check the credit limits of counterparties involved in derivatives trades to make sure they will be accepted by a clearinghouse.